General Electric may sell distributed power business by mid-year

NEW YORK: General Electric CO said on Friday it had decided to sell its distributed power business and may be able to announce a deal by mid-year, confirming an earlier Reuters report.

The unit, which includes GE's Jenbacher and Waukesha lines of reciprocating gas engines, is attracting strong interest from potential buyers, GE said. Reuters reported in February that GE was considering a sale of the business, which could be worth $2 billion.